Manning & Napier Advisors LLC Has $50.56 Million Holdings in Intercontinental Exchange Inc. $ICE

Manning & Napier Advisors LLC lowered its position in Intercontinental Exchange Inc. (NYSE:ICE) by 10.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 321,482 shares of the financial services provider’s stock after selling 36,137 shares during the period. Manning & Napier Advisors LLC owned 0.06% of Intercontinental Exchange worth $50,563,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Ares Financial Consulting LLC bought a new position in Intercontinental Exchange during the fourth quarter worth $25,000. Holos Integrated Wealth LLC bought a new stake in Intercontinental Exchange during the fourth quarter valued at $28,000. Steph & Co. grew its holdings in Intercontinental Exchange by 104.7% during the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 89 shares during the period. Brooklands Fund Management Ltd acquired a new position in shares of Intercontinental Exchange in the 4th quarter valued at about $28,000. Finally, Swiss RE Ltd. acquired a new position in shares of Intercontinental Exchange in the 4th quarter valued at about $28,000. 89.30% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Intercontinental Exchange news, Director Sharon Bowen sold 667 shares of Intercontinental Exchange stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $151.28, for a total transaction of $100,903.76. Following the completion of the transaction, the director owned 15,077 shares in the company, valued at approximately $2,280,848.56. The trade was a 4.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total value of $693,083.88. Following the completion of the sale, the general counsel directly owned 45,473 shares of the company’s stock, valued at approximately $6,891,887.88. This trade represents a 9.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 13,425 shares of company stock worth $2,046,324 in the last 90 days. Company insiders own 0.84% of the company’s stock.

Intercontinental Exchange Stock Down 0.1%

ICE stock traded down $0.20 during midday trading on Friday, reaching $134.91. 3,013,578 shares of the company’s stock traded hands, compared to its average volume of 4,842,965. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. The firm’s fifty day moving average price is $142.48 and its 200-day moving average price is $155.59. Intercontinental Exchange Inc. has a 52 week low of $121.79 and a 52 week high of $189.35. The company has a market cap of $76.29 billion, a price-to-earnings ratio of 19.64, a P/E/G ratio of 1.27 and a beta of 0.94.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. The firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The business’s revenue was up 20.4% on a year-over-year basis. During the same period last year, the company earned $1.72 earnings per share. As a group, sell-side analysts forecast that Intercontinental Exchange Inc. will post 8.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on ICE shares. The Goldman Sachs Group decreased their target price on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Keefe, Bruyette & Woods initiated coverage on shares of Intercontinental Exchange in a research report on Wednesday, April 8th. They set an “outperform” rating and a $190.00 price objective for the company. Piper Sandler reiterated an “overweight” rating and set a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a research report on Wednesday, April 15th. Morgan Stanley reduced their price target on shares of Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating for the company in a report on Friday. Finally, Weiss Ratings downgraded shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, June 17th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $183.33.

Key Headlines Impacting Intercontinental Exchange

Here are the key news stories impacting Intercontinental Exchange this week:

• Positive Sentiment: Barclays reiterated an Overweight view and raised its price target to $180, while UBS and Goldman Sachs recently also issued bullish targets, signaling Wall Street still sees upside in ICE’s core exchange and data businesses.
• Positive Sentiment: Social-media and market commentary continue to highlight ICE’s strong earnings growth, relatively low valuation versus peers, and expansion initiatives in futures and tokenized equities, which support the long-term bull case.
• Neutral Sentiment: ICE’s coffee futures market is in the spotlight after the company raised margin requirements for coffee trading, contributing to sharp swings in arabica and robusta coffee prices. That move is boosting attention on ICE’s role in commodities markets, though the direct stock impact is less clear.
• Neutral Sentiment: Recent commentary also notes ICE’s Q1 revenue grew 13.5% year over year to about $3.7 billion, showing the business remains fundamentally healthy ahead of its next earnings update.
• Negative Sentiment: Morgan Stanley cut its price target to $163 from $187 and kept an Equal Weight rating, reflecting more cautious near-term expectations for the stock.
• Negative Sentiment: Analysts have also pointed to softer June volume trends and weaker trading activity in some futures segments, which has led to estimate cuts and is weighing on investor sentiment before ICE’s late-July earnings report.
• Negative Sentiment: Insider selling remains a mild overhang, with ICE executives and directors having made no open-market purchases over the past six months.

Intercontinental Exchange Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.